Canadian Underwriter

Segment
Risk Management


News Insurance

SOX will reveal corporate weaknesses: Fitch

January 20, 2005 by Canadian Underwriter

The implementation of section 404 of the Sarbanes-Oxley corporate governance requirements in the U.S. will likely lead to more frequent revelation of internal control problems on the part of corporations, says a new study by Fitch.The rating agency says it

News Insurance

What’s new: In brief (January 20, 2005)

January 20, 2005 by Canadian Underwriter

Oakville, Ontario-based pet insurer Pethealth (TSX Venture: PTZ) has declared a dividend of $0.12 per series one convertible preference share, payable on January 26. Pethealth issued 5 million of convertible preference shares on January 21, 2004 through a private placement,

News Insurance

Liability market softening slower than property: Willis

January 18, 2005 by Canadian Underwriter

In its “International Liability Market Review”, broker Willis says predictions that the liability market would see flat to declining pricing in the second half of 2004 were borne out. But the 10-15% declines in liability pricing paled in comparison to

News Insurance

What’s new: In brief (January 18, 2005)

January 18, 2005 by Canadian Underwriter

Alberta’s Agricultural Financial Services Corp. is giving out $2 million in premium rebates to about 7,400 farmers who purchased straight hail insurance in 2004. While 2004 was actually a high loss year for crops due to hail, past experience has

News Climate ChangeInsurance

What’s new: In brief (January 16, 2005)

January 16, 2005 by Canadian Underwriter

The Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA) says 43 new captives were formed in the domicile in 2004. The forms were varied, with 29 pure captives, 8 risk retention groups (RRGs), and also industrial insureds, sponsored, association

News Insurance

Market turn marked by discipline: Willis

January 16, 2005 by Canadian Underwriter

In its annual “Marketplace Realities” report, broker Willis finds despite price softening in “virtually all market segments”, underwriting discipline remains intact.Despite the past year being marked by catastrophes, including the Atlantic hurricane season and December 26 Asian tsunami, market capacity

News Insurance

Commercial auto on the right path, but not likely to stay there: Conning

January 13, 2005 by Canadian Underwriter

Writers of commercial auto insurance have effected a massive turnaround since 1999, posting strong results last year, but this upward trend is unlikely to last past 2004, says a new study by Conning Research.In 1999, commercial auto writers posted a

News Climate ChangeInsurance

Levene touts need for “early warning system for both natural and corporate disasters

January 13, 2005 by Canadian Underwriter

2004 was marked by a series of “disasters” for the insurance industry not just natural catastrophes like the Atlantic hurricanes, but also corporate catastrophe in the form the investigations into broker compensation and non-traditional insurance products. In light of this,

News Insurance

Markel launches new “fuel price” insurance

January 12, 2005 by Canadian Underwriter

Trucking insurer Markel Insurance Co. of Canada has devised a new product to hedge against volatile fuel prices.“FUELogic” allows long-haul truckers to lock in the “maximum” price they choose to pay for fuel from a number of options, to be

News InsuranceMergers and Aqcuisitions

What’s new: In brief (January 11, 2005)

January 11, 2005 by Canadian Underwriter

CIBC Insurance is providing quotes on p&c insurance from various other insurers, to clients in Ontario and Alberta, via the bank’s website. The site provides a link to online insurance marketplace Kanetix as a service to clients, although CIBC no

News Insurance

Echelon parent merger complete, Co-operators stake further reduced

January 11, 2005 by Canadian Underwriter

The amalgamation of EGI Financial Holdings Inc. (EGI), parent company of Echelon General Insurance Co., with Canadian Insurance Marketing Inc. CIMI) is now complete. With the merger, The Co-operators Group has also reduced its stake in EGI to 43% –

News Insurance

U.S. tort costs rise modestly in 2003

January 10, 2005 by Canadian Underwriter

U.S. tort costs continued their upward trend, although at a far less dramatic rate in 2003, according to a new study by Tillinghast.In its annual review, the research firm finds tort costs rose 5.4% in 2003, exceeding overall economic growth